Brick Two-Family
For Sale
$1,329,000
251 67th St, Brooklyn, NY 11220
Semi-detached residential income property with separate living spaces, private parking, and room for storage.
Property Size2,016 SF
Days on Market12
Property Features for 251 67th St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,812
Building Details
Building Size
2,016 SF
Year Built
1960
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Realty First Residential
(718) 758-5838
Listed By:
Karla Ng Mok · License #KNM9509
(718) 758-5838
Source:
Elliman
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 13 at 8:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty First Residential
Investment Insights
Based on property information with market context.
This semi-detached brick residence contains two apartments arranged across three levels. The first-floor unit includes two bedrooms, storage space, and access to a laundry and utility area. The upper residence is a four-bedroom duplex with a separate kitchen and living room, plus 1.5 baths. Split heating and cooling serves all rooms, with hardwood flooring in the main unit and tile flooring in the first-floor apartment.
A private driveway provides parking for up to 3+ cars. The property is located at 251 67th St in Brooklyn, near subway service, the ferry, and a major shopping district. Built in 1960, it also carries walk, bike, and transit scores of 96, 81, and 91, respectively.
A private driveway provides parking for up to 3+ cars. The property is located at 251 67th St in Brooklyn, near subway service, the ferry, and a major shopping district. Built in 1960, it also carries walk, bike, and transit scores of 96, 81, and 91, respectively.
Key Highlights
- Two‑family brick property arranged across three levels
- First‑floor 2‑bedroom apartment with storage and laundry/utility access
- Upper 4‑bedroom duplex with separate kitchen, living area, and 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,026
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,200,520
$1.2M
Cap Rate 7%
$857,514
$857.5K
Cap Rate 9%
$666,956
$667.0K
Market Conditions
NOI Build-Up for 2,016 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.5K $44.40/SF
− Vacancy
−$3.8K −$1.86/SF
EGI
$85.8K $42.54/SF
− OpEx
−$25.7K −$12.76/SF
NOI
$60.0K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,200,520
Cap Rate 7%
$857,514
Cap Rate 9%
$666,956
Alternative Uses
Best Use
Multifamily LT 5
$857.5K
$750.3K – $1.00M
NOI $60,026 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$768.0K
$672.0K – $896.0K
NOI $53,760 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,484 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Semi-detached residential income property with separate living spaces, private parking, and room for storage.
Where is this duplex located?
The property is located at 251 67th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,329,000.
What are key features of this property?
This property features: Two‑family brick property arranged across three levels; First‑floor 2‑bedroom apartment with storage and laundry/utility access; Upper 4‑bedroom duplex with separate kitchen, living area, and 1.5 baths
